Irish Residential Properties REIT plc announced that it has entered into a new revolving and accordion credit facility of up to €250 million, which can be extended to €350 million subject to certain terms and conditions (the "New Revolving Credit Facility"). The New Revolving Credit Facility, which has a five year term, replaces the existing €60 million revolving credit facility (the "Previous Revolving Credit Facility") which was due to mature in August 2016. It has a reduced margin compared to the Previous Revolving Credit Facility.

The New Revolving Credit Facility is secured by a floating charge over the assets of the Company and its subsidiaries. Barclays Bank Ireland plc acted as Facility Co-ordinator whilst Barclays Bank Ireland Plc and Ulster Bank Ireland Limited were Joint Arrangers. Of the €250 million facility, Barclays Bank Ireland are lending €162.5 million and Ulster Bank Ireland Limited €87.5 million.